Terra UST Burn Confirmed- 1.388 Billion UST to be Burned.

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In a majority verdict, the Terra community has voted for the burn of 1.388 billion UST that have been accumulating in the community pool. A total of 1.017 billion tokens are in the community pool and 370 million are in Ethereum, which combined make about 11 percent of the total UST supply.

The new chain’s release has been a top priority for the community, and they’ve been working around the clock to plan for it. However, Terra’s expected operational start time of 6:00 AM UTC on May 28th 2022 is susceptible to change.

TFL will distribute the preultimate-genesis.json file to Terra validators participating in Genesis.

TFL intends to collect all of the generation txs from all of the validators.

As soon as a large number of interconnected validators complete their responsibilities simultaneously, the first block of the new chain is generated.

As soon as the network becomes up Terra Station, Terra Finder, and Terra Observer will go Live.